Miami, FL – October, 2021 – MMG Equity Partners has secured $16.8 million to refinance Miami Gardens Shopping Center, located at 18350 NW 7th Avenue in Miami Gardens, FL. Guardian Life Insurance Company of America provided the loan for the shopping center. JLL Capital Markets team, which included Chris Drew, Brian Gaswirth, and Reid Carleton, arranged the debt package. MMG acquired the property in 2012 for $11 million.
Miami Gardens Shopping Center is a 117,829 square foot grocery anchored shopping center located on the Northwest corner of Miami Gardens Drive and NW 7th Avenue. The property benefits from over 40,000 vehicles per day at the intersection. The shopping center is anchored by Presidente Supermarket, and is home to a diverse tenant roster including Family Dollar, Humana Health, Subway, and Amscot.
The property is 97% occupied at closing.
MMG is an active buyer of South Florida real estate and was recently ranked as one of the Top Real Estate Investors in Miami-Dade. In August 2021, MMG refinanced Town and Country Plaza. In May 2021, the company acquired Plantation Square, a 65,796 SF retail center in Broward County. MMG recently completed a full remodel of Naranja Plaza, a 52,000 SF strip center in Southern Miami-Dade County.
About MMG Equity Partners
MMG Equity Partners is a privately-owned real estate investment company focused on long-term ownership, management, development, and acquisitions of shopping centers in Florida. For more information about MMG Equity Partners, please contact us directly.